I’m Going to Quit My Job Friday to Buy and Run a Business
Some background about me is I graduated from a higher tier west coast school in 2019. Since then I've worked for 2 years in a retailrole, which I realize isn't an extensive time period. During that time I immediately knew I did not enjoy all the red tape/reporting and more enjoyed the aspect of managing my 10+ separate teams of property managers,leasing agents,lawyers and brokers that I kept in contact with when I was given the chance. While the opportunity was helpful in developing my ability to evaluating small business financials and honing my modeling skills I realize I have no interest in real estate so my time is being spent unproductively.
Fast forward to today, I've been going a little stir crazy. I have my own online business that I started in March of this year(nothing big, less than $5,000 profit, slow growth) and it's the happiest I've been since I've graduated school. I've started to read about other possible entrepreneur opportunities in a book called "HBR Guide to Buying a Small Business" and I'm obsessed. The ability to buy a company for 3-5xand then flip the company in 2-5 years for a return on an increase in sales in varied industries sounds like a perfect career path in comparison to underwriting properties I can't seem to care about.
I am lucky to have substantial backing from my family of loosely $1mil if I need it and don't worry this isn't a really drawn out Donald Trump troll. My question is, am I too inexperienced? While I have read most entrepreneurs are relatively inexperienced, they are mostly talking about people with 5 years experience or an MBA. That being said my job currently probably won't give me any other opportunities to grow in the direction I want. Would love to hear from experienced people on WSO why or why not you did not make the jump to entrepreneurship.
Sorry for bad formatting or spelling mistakes. Currently typing on mobile.